Finance ministry, Customs’ bureaucracy stalls zero food import take-off
The United States Chamber of Commerce has committed $320 million toward mortgage refinancing and SME financing in Nigeria, marking a…
Category: Local
Tariff hike looms as monthly power subsidy hits N181bn
Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced that the construction of the $3.5 billion Bakassi…
Construction of $3.5bn Bakassi seaport to begin soon – ICRC
Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC), announced that the construction of the $3.5 billion Bakassi…
Customs, SMEDAN partner to ease SMEs’ cross-border trade
The Nigeria Customs Service (NCS) is partnering with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to enhance…
Stock market sustains bullish trend
Ahead of the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting, the Nigerian stock market has maintained positive…
CBN Expected to Maintain Interest Rates as Inflation Declines Ahead of MPC Meeting
As the Central Bank of Nigeria (CBN) commences its 297th Monetary Policy Committee (MPC) meeting, financial analysts expect the apex…
PenCom reports over N5.72trn public sector contributions in Q2 2024
The National Pension Commission (PenCom) has reported significant growth in both public and private sector pension contributions, with public contributions…
External reserves hit 22-month high amid naira struggles
Nigeria’s external reserves have surged to a 22-month high of $37.31 billion as of September 2024, driven by significant foreign…
Cooking gas price rose by 69% in August 2024
The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has seen a significant increase in Nigeria over…
Nigerian economy to hit $400bn by 2026 – Rewane
Bismarck Rewane, the Managing Director of Financial Derivatives Company, forecasts Nigeria’s economy to grow by 3.5% by 2026, increasing the…
Dangote officials, refiners tackle marketers over imported PMS
Officials of the Dangote Petroleum Refinery and the Crude Oil Refiners Association of Nigeria (CORAN) have opposed the importation of…
FG eyes economy revamp with single-digit rates, tax incentives
The Nigerian government has introduced key economic reforms aimed at stimulating growth by reducing corporate taxes, offering single-digit interest rates,…
Why Coca-cola suspended its 5-year $1 billion investment pledge to Nigeria in 2021 – Presidency
The Nigerian presidency has clarified the reasons behind Coca-Cola’s initial withdrawal of its $1 billion investment pledge, made in 2021,…
What Exactly Is Cardoso Doing At The CBN
Yemi Cardoso is marking his first year as Governor of the Central Bank of Nigeria (CBN) amid tough economic conditions.…
11 plc, Total Energies, AA. Rano, others pay N766 to lift Dangote petrol
Petroleum marketers like 11plc, Total Energies, and AA Rano have started lifting petrol from Dangote Refinery through NNPC Trading Limited…
Jega Submits Recommendations For Livestock Reforms To Tinubu
Former INEC Chairman, Prof. Attahiru Jega, has presented a 152-page report to President Bola Tinubu, detailing recommendations for a 10-year…
World Bank to approve $1.5bn loan to Nigeria by September 26
The federal government is poised to secure a $1.5 billion loan from the World Bank, with approval expected on September…
Sterling Holdco boosts recapitalisation with N75b capital
Sterling Financial Holdings Company (Sterling Holdco) has successfully raised N75 billion to support the recapitalisation of its banking subsidiaries, including…
Nigerian Customs Apapa Command hits record N1.5 trillion revenue in 9 months
The Nigeria Customs Service (NCS) recorded significant growth in revenue with ₦277.5 billion in import duties and ₦15.8 billion in…
Over $500 million investment attracted through Public-Private Partnership projects – Infrastructure Commission
The Nigerian government, through the Infrastructure Concession Regulatory Commission (ICRC), has attracted over $500 million in investments through Public-Private Partnerships…
Dapo Abiodun announces $5 million UK battery plant investment in Ogun State
The Ogun State Government has announced the establishment of a $5 million battery recycling plant by a British company, marking…
We inherited N13 billion unpaid pension, gratuity arrears in Zamfara – Governor Lawal
Governor Dauda Lawal of Zamfara State revealed that his administration inherited N13 billion in unpaid pensions and gratuities from previous…
Naira gains N116.84 on increased dollar supply
The Nigerian naira appreciated by 7.59% against the U.S. dollar on Wednesday, closing at N1,539.65 in the Nigerian Autonomous Foreign…
Regulatory clampdown fails to drown crypto excitement
Nigeria has retained its number two spot on the 2024 Global Crypto Adoption Index, trailing only India, according to Chainalysis.…
CBN pegs BDC forex sales at $5,000
The Central Bank of Nigeria (CBN) has introduced a new policy limiting the foreign exchange cash sales by Bureau de…
FG, states, LGs shared N1.2tn in August – FAAC
The Federal Accounts Allocation Committee (FAAC) has disbursed N1.2 trillion in revenue earned in August 2024 to the Federal Government,…
Three marketers to import 141m-litres petrol
Three major oil marketers are set to import about 141 million litres of Premium Motor Spirit (PMS) into Nigeria this…
N599bn rights issue to cut FX losses, says NB
Nigerian Breweries Plc has announced plans to reduce its foreign exchange (forex) losses and local debt burden through a N599.1…
Executive Order: Tinubu eyes $2.5bn investments
President Bola Tinubu has signed five executive orders to encourage investment in Nigeria’s oil and gas sector. These orders are…
Emirates’ bookings slow on dollar charges, visa – Travel agents
Travel agents in Nigeria report that bookings for Emirates flights have slowed down despite the airline’s scheduled resumption of services…